on The Platform Group AG (isin : DE000A2QEFA1)
The Platform Group AG Acquires FirstWire Financial Platform
The Platform Group AG, a prominent software company for platform solutions, has acquired a 50.1% stake in FirstWire GmbH. FirstWire, based in Cologne, operates a digital platform providing B2B financing solutions since 2016, primarily serving municipalities and major real estate investors both in Germany and internationally. With over EUR 1.2 billion in financing placements annually, FirstWire's acquisition is set to enhance The Platform Group's Service Goods segment. The transaction finalizes in January 2025, and the purchase price remains undisclosed.
Michael Dreiner, Managing Director of FirstWire, expresses excitement over the partnership, aiming to broaden the financing platform's reach. Plans to integrate new partners, anticipating economic shifts like lower interest rates, are set for 2025. Meanwhile, FirstWire will continue optimizing its software for improved digital transactions.
The Platform Group's CEO, Dr. Dominik Benner, reinforces the company's intention to make strategic acquisitions in the financial platforms sector, leveraging their anti-cyclical investment strategy. The Group, present in various industries, reported EUR 441 million in pro-forma sales with EUR 22.6 million in adjusted EBITDA in 2023.
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